After the relatively silent weekend, bitcoin started to lose value hours ago and slumped to a 12-day low at just over $26,000.
Most altcoins are in the red as well today, with XRP and Toncoin dropping by about 3%.
Bitcoin’s price went on the offensive at the start of the previous week, surging past $27,000 and going all the way up to $27,500 on Tuesday. After a day of trading sideways there, the asset lost most of its momentum and started retracing.
This culminated in a price drop to $26,400 on Thursday, around the same time the US Federal Reserve announced a change to its monetary policy – refusing to hike the interest rates once again.
Nevertheless, bitcoin recovered some ground in the next few days and spent most of the weekend at around $26,600. However, it was rejected when it tried to pump higher, and the subsequent decline pushed it down to $26,000 for the first time since September 13.
As of now, BTC has managed to defend that level, but its market cap has slumped below $510 billion, and its dominance over the alts has dropped to 48.9% on CMC.
Most alternative coins are also in the red today. Ethereum, Binance Coin, Dogecoin, Cardano, Solana, Litecoin, and Shiba Inu are with losses of up to or around 1%.
Further declines are evident from Ripple and Toncoin. Both assets have retraced by approximately 3%. As a result, XRP has slipped below $0.5, while TON is at $2.2
Polygon, Bitcoin Cash, LEO, HBAR, XLM, FIL, and CRO are also in the red today.
Aptos is among the few exceptions, having surged by over 6%. Consequently, APT trades close to $5.5.
The total crypto market cap has seen another $10 billion gone in a day and is under $1.050 trillion on CMC now.
